AIA Group Ltd Has $1.13 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

AIA Group Ltd increased its position in Micron Technology, Inc. (NASDAQ:MU) by 95.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,368 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,522 shares during the quarter. AIA Group Ltd’s holdings in Micron Technology were worth $1,125,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MU. Harmony Asset Management LLC increased its stake in shares of Micron Technology by 75.6% in the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after buying an additional 5,120 shares during the period. E Fund Management Co. Ltd. boosted its holdings in Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after acquiring an additional 8,780 shares during the last quarter. Stablepoint Partners LLC acquired a new stake in Micron Technology during the 4th quarter valued at approximately $569,000. State Street Corp raised its holdings in Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in shares of Micron Technology in the 3rd quarter worth approximately $2,414,000. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Piper Sandler lowered their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company cut their target price on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada set a $125.00 target price on Micron Technology in a report on Wednesday, March 19th. Finally, Wedbush restated an “outperform” rating and set a $125.00 price target on shares of Micron Technology in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.76.

Micron Technology Price Performance

Micron Technology stock opened at $86.89 on Tuesday. Micron Technology, Inc. has a 52 week low of $83.54 and a 52 week high of $157.54. The company’s 50 day moving average price is $95.62 and its two-hundred day moving average price is $98.51. The stock has a market cap of $97.11 billion, a P/E ratio of 25.04 and a beta of 1.23. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.